HUMAN RESOURCE MANAGEMENT PRACTICE - Fichier PDF

49Managing reward systemsManaging reward systems is a complex and demanding business. This chapter dealswith the subject in seven parts:1. Preparation and use of forecasts and budgets.2. Evaluating the reward system.3. Pay reviews.4. Control.5. Reward procedures.6. Responsibility for reward management.7. Communicating to employees.REWARD BUDGETS AND FORECASTSReward budgets and forecasts are concerned with overall payroll costs and the costsof general and individual pay increases.Payroll budgetsApayroll budget is a statement of the planned allocation and use of human resourcesrequired to meet the objectives of the organization. It is usually a major part of the